Hevel secures EUR56.2 million financing for solar project in Kazakhstan

​The Eurasian Development Bank (EDB) and Hevel Kazakhstan signed a EUR56.2 million (US$63.96 million) long-term multi-currency loan facility agreement to finance the construction of solar power plants with an installed capacity of up to 90 MW in Kazakhstan. 

The plants are expected to generate over 160 million kWh per year and are expected to help to reduce carbon dioxide emissions by 85,000 tonnes a year. The generated electricity will be supplied to Kazakhstan’s power system. 

The plants are scheduled to be commissioned in 2020. In addition to other equipment, the project expects to use Hevel’s HJT modules. This will foster high-tech production for the renewable energy sector in both Russia and other countries of the Eurasian economic space.